Saudi Arabia transfer ownership of 14 clubs

Image: Coliseum GSVA

The Ministry of Finance (Saudi Arabia) has officially announced the transfer of ownership of 14 clubs to the private sector as part of its privatization program.

A ‘LinkedIn Post’ stated that the above decision has been reached with the aim of developing sports clubs to operate as independent commercial institutions.

Saudi Arabia has invested billions of dollars in sports as part of its Vision 2030 plan to diversify its economy and improve its human rights record. The country has hosted sporting events since 2014 and has landed the biggest sporting extravaganzas due to its sleek infrastructure and other facilities conducive for hosting big-ticket sporting events.

Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.

Become a member of the only Global Sports Venue Alliance and connect with stadiums, arenas and experts from around the world. Apply for membership at coliseum-online.com/alliance and make use of the 365Coliseum Business.

• Tags »
• private sector
• Saudi Arabia
• transfer of ownership

« Previous News: Cotton Bowl revamp plans move forward
» Next News: Gaming fun galore in Qiddiya esports zone